Editors Introduction Professor Ken Binmore led the team of economists who designed the auction used by the British government to sell spectrum licences for the next generation of cellular telephones. The auction raised $36 billion for the Treasury, which at the time, made it the biggest auction ever. In this lecture held at the London School of Economics, Binmore reviews the design process and compares the British sale with the experience of other European countries.
Binmore talks about big money auctions.
feature is taken from a lecture delivered at the London School of Economics
and Political Science on December 7, 2000. Copyright The London School
of Economics and Political Science.